Times are constantly changing, especially for businesses with advances in technology, new marketing channels and other elements. This may very well be the reason why businesses may be needing qualified company secretarial, offering corporate governance services, to help dealing with challenges and even be able to compete on a global stage. Orion is here to assist your business with all the necessary corporate governance that your company may need during the different stages of your business.
- What is Corporate Governance?
Corporate governance, broadly, is the arrangement of rules, practices and cycles by which a company is coordinated and controlled. It alludes also to the way in which companies or businesses are presided over and to what purpose. Corporate governance guarantees that businesses or companies have suitable dynamic processes and commands set up, so the interests of all stakeholders are complied with. Since it additionally gives the framework for achieving an objective, it includes for all intents and purposes each sphere of the management board, from activity plans and internal controls to performance estimation and corporate exposure.
2. The rewards of good Corporate Governance
Good governance implies that your business’ processes are planned for delivering results which address the needs of society and organisational prosperity while at the same time using accessible assets. This is a foundation for success, that empowers the formation of opportunities for development and competitive advantage. Some of the benefits of Corporate Governance are as follows:
- Risk reduction
An effective corporate governance structure assists with risks mitigation, providing the comfort that although exits (“contingency plan to liquidate a position in a financial asset or dispose of tangible business assets once predetermined criteria for either has been met or exceeded”) may be troublesome, interests will be protected by the board and executives. A good governance framework will likewise prompt reflection on exit strategies, providing additional insight to prospective shareholders deciding whether to invest in the company.
- Positive behaviour promotion
Having clearly outlined policies and measures and an adequate managerial staff who keep up the compliance culture directly derives improved outcomes. With the board members themselves participating in that culture, it ensures clear lines of communication between the organisation itself and the management team, who then are able to respond immediately towards part of the organisation not complying.
- Cost of capital reduction
The execution of good corporate governance practices can prompt a reduction in a company’s expense of capital, which is crucial in today’s unpredictable business environment. A company that looks steady,reliable and able to moderate potential risks will have best chances to borrow funds at a lower rate than those with frail corporate administration.
- Improved and effective decision-making
Good corporate governance sets the focus on quicker decision-making processes by setting up a clear depiction of job descriptions among owners and the executives. It ensures rapid flow of and access to information and eventually desired results. Also, good governance allows for rapid and accurate prioritisation of actions to be taken, enabling the company/business to go through and overcome economic strains and a better support for sustainability.
- Competitive advantage opportunities
Companies, businesses, organisations and industries are either continually changing or can possibly evolve at one point; embracing good governance and generating an environment where its practices can be sustained is imperative to ensure that your entity is versatile to change, thus giving a more competitive upper hand.
- Improved strategic planning
A company or business’s boards are more prone to better formulate successful strategies with a better access to information and good communication channels. Besides a better allocation of capital and resources, a strong governance framework provides a better grasp of the regulatory environment the business finds itself in. Moreover, it allows for the identification and management of all the stakeholders interests, which ought to be reasonable, in the business.
3. Orion Secretarial Services and Corporate Governance
Orion Secretarial Services, with its qualified team of company secretaries, legal advisers and accountants, provides a range of services including Corporate Governance. The offers proposed extend to domestic companies ranging from small, medium and large companies. Innovation and creativeness being one the company’s ideals for clients, the service provided is unique for each client, entrusting Orion with the governance of their company. It is not just a story of providing support, but providing guidance and insights on several issues pertaining to the company. The team will ensure that the director (client) of the company has been filled in and ready to deal with their exposure in new roles pertaining core duties, liabilities and risks that can be faced. The team also assists the client in determining the governance framework and culture to adopt, bearing in mind that changing and evolving technologies in each field.
Entrusting your company to Orion is a collaboration, with constant and effective communication, focusing on the success of the client first of all and building long-lasting and durable relationships.